In its new Rare Earth Magnet Market Outlook to 2035 report, Adamas Intelligence forecasts that global demand for NdFeB magnets will increase at a CAGR of 8.6%, bolstered by double-digit growth from electric vehicle and wind power sectors. This will translate to comparable demand growth for the rare earths elements.
The value of global magnet rare earth oxide consumption will triple by 2035, from US$15.1 billion to US$46.2 billion, according to a new report published The value of global magnet rare earth oxide consumption will triple by 2035, from US$15.1 billion to US$46.2 billion, according to a new report published by Adamas Intelligence, an independent research group.